Marketing audit of company
Marketing audit is a comprehensive studying of the marketing system and company sales with detection areas and ways of its further improvement.
Marketing audit should be conducted on a regular basis; thus it is vital in the event of a crisis in the organization. As usual marketing audit is conducted by an external expert or new marketer with fresh unbiased look at the activities of the company.
In general marketing audit includes the following steps:
- Analysis of search and execution of orders in the firm. Determination of the impact level of marketing and sales departments (specialists) regarding the adoption of key decisions in the company.
- Analysis of company the range of goods (services) in terms of profitability, the share of the relevant market, according to profile and production capacity of the company, the basic needs of the target audience of the company, the availability of competitive advantages and prospects for changes in demand.
- Analysis of the pricing policy of our enterprise.
- Analysis of main competitors, their strengths, marketing and sales policy.
- Analysis of the behavior of target consumers, conditions and methods of use of the goods (services), criteria for selection, intensity and stability of supply, the degree of loyalty to our and competing firms (some products).
- Identification of key challenges of the company in the sphere of marketing and sales, as well as methods and solutions.
When we conduct marketing audit we commonly use analysis of the history of the firm, the base current and completed contracts poll managers, employees, suppliers and customers.
To avoid possible misunderstandings with the customer of marketing audit it is concluded additional information to disclose business secrets.
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